The Bison Bond I Program - Allocation

Allocation from 1991 to the Present

This table demonstrates the investment moves Central Plains Advisors, Inc. has made since the Bison Bond I program’s inception in 1991. Central Plains Advisors, Inc. does not take a “buy and hold” approach to investing, nor is there any time related pressure to trade. Moves are made as our economic outlook dictates. For example, please note that no trades were made from March 31st, 1995 to May 15th, 2003; and from May 4th, 2005 to December 1st, 2008.

Date Action Allocation 30 Year TSY Yield Position
12/31/90 Start 0% 8.26% 0%
03/01/91 Buy 100% 8.28% 100%
04/02/91 Sell -100% 8.22% 0%
06/11/91 Buy 100% 8.48% 100%
09/08/92 Sell -100% 7.23% 0%
01/04/93 Buy 25% 7.44% 25%
01/19/93 Buy 25% 7.40% 50%
02/09/93 Buy 25% 7.30% 75%
05/21/93 Buy 25% 6.85% 100%
07/19/93 Sell -25% 6.52% 75%
08/30/93 Sell -7.5% 6.02% 67.5%
10/12/93 Sell -10% 6.00% 57.5%
10/25/93 Sell -57.5% 5.97% 0%
07/01/94 Buy 20% 7.61% 20%
07/29/94 Sell -20% 7.36% 0%
08/12/94 Buy 20% 7.60% 20%
09/09/94 Buy 20% 7.70% 40%
10/24/94 Buy 20% 8.04% 60%
11/14/94 Buy 10% 8.07% 70%
02/09/95 Buy 10% 7.64% 80%
03/31/95 Buy 20% 7.44% 100%
05/15/03 Sell -25%* 4.49% 75%
05/23/03 Sell -18.75% 4.25% 56.25%
06/26/03 Buy 18.75 4.56% 75%
07/11/03 Buy 25% 4.68% 100%
09/23/04 Sell -100% 4.80% 0%
04/04/05 Buy 33% 4.73% 33%
04/14/05 Buy 33% 4.72% 66%
05/04/05 Buy 34% 4.59% 100%
12/01/08 Sell -100% 3.24% 0%
02/18/09 Buy 33% 3.53% 33%
02/27/09 Buy 17% 3.72% 50%
04/14/09 Buy 50% 3.66% 100%
*25% went to American Century Target Maturities 2010 Series from the American Century Target Maturities 2025 Series. All previous moves went to Money Market Funds.

The buy/sell actions shown on this and the previous page were applied to portfolios under Central Plains Advisors Inc.’s management for the periods shown. The table is for illustration purposes only and not intended to be used to compute investment performance results. Actual performance results applying these signals to mutual funds or variable annuities could be materially different. Please contact Central Plains Advisors, Inc. for actual client performance data.